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Education and the labor market outcome in the republic of srpska

Author:

Stevo Pasalic

Subject Area:

Social Sciences and Humanities

Abstract:

Education is one of the key factors in the effectiveness and speed of economic development. Improving and changing social relations depends mostly on the knowledge and on the level of education of people. Modern development requires new knowledge and the need for them is constantly growing. The quality of human resources is a dynamic element of development policy. Its mobility and adaptability accelerates and improves change. The contribution of education is for the overall development of strategic importance, among other things, because technological progress dictates the development of human potential. The educational system in our area monitors the problem of mismatch in the structure of education, educational profiles and the needs of the economy. The one who degrades his educational system loses his own future. Poor education is not the only exclusively reason for unemployment, but the fact is that there is a strong correlation between these two phenomena, and that education plays an important role in the fight against unemployment. Transition processes have resulted in major changes in the structure of employment. Economic pressures and the uncertain market has forced many organizations to turn to more flexible forms of employment. After analyzing the available studies, analysis, research in the field of labor market trends in the Republic of Srpska, and analyzing the available relevant statistical data, the demographic structure, employment and characteristics of the workforce, the informal economy, education policies and labor market outcomes, as well as the economic growth and dynamics of labor demand, this paper answers the question of current trends in the education and labor market of the Republic of Srpska and provides an analytical overview of the availability of labor force with respect to the age structure, educational structure and other available statistical indicators.